The Boxing Day clash at Villa Park appeared set to finish goalless until Gayle collected a pass from fellow substitute Jonathan Williams and curled the ball home from 20 yards.
The result moved Palace to 17th in the Premier League, above Fulham on goal difference, and left Villa just three points clear of danger following a fourth successive defeat.
Villa have now won just one of their last 13 matches on Boxing Day and have failed to score in eight of their last 11 outings.
Paul Lambert was without Christian Benteke and Ashley Westwood due to injury and suspension respectively, but Gabby Agbonlahor returned after completing a one-match ban. Palace's top scorer Marouane Chamakh missed out after picking up his fifth yellow card of the season last time out.
Fabian Delph's vision and immaculate execution of pass then presented Andreas Weimann with a chance, but the Austria international's half-volley went straight into the arms of Julian Speroni.
Agbonlahor raced into the area but hit his shot straight at Speroni and, following a delightful move, Albrighton's clever cut-back set up Weimann, who fired over from inside the box.
Bolasie tricked his way past two opponents on 65 minutes and crossed for Jason Puncheon, whose fierce shot from 10 yards was saved by Guzan.
